Pawn Shop

Pawn Shop

A shop where one may pawn an item or buy items other persons have pawned. When one pawns an item, one receives a loan and gives the pawnbroker (the pawn shop's owner) possession of the item. One may retrieve the item within a certain period of time if one repays the loan with interest. If the loan is not repaid, the pawnbroker may sell the item in his/her shop. Because the pawnbroker already has possession of the item, he/she does not report non-payment of the loan and it does not affect the borrower's creditworthiness.

the city's oldest pawn shop, where down-on-their-luck gamblers have gone since the 1930s to trade their possessions for enough cash to make just one more stake at the gaming tables - or to finance the trip home.

Colleen Irvine, chief of the Las Vegas Police Department's 10-person pawn shop detail, sees Kronberg as the epitome of the modern pawnbroker - and his shop as the Cadillac of local pawnshops.

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